Following up on a strong 2011 that saw $50.2 billion in dividend increases, according to Standard & Poor's data, dividend increases surged to a record $24.2 billion in the first quarter of 2012, a year-over-year increase of almost 28% and the good times haven't stopped there. As one example, in the last week of April alone, more than 20 companies increased their payouts.

After all, "dividend stocks generally have been less volatile than the broader market, which can make them a good defensive choice," according to iShares Global Chief Investment Strategist Russ Koesterich.

The iShares Emerging Markets Dividend Index Fund (NYSE: DVYE) is the ETF that tracks that index. DVYE, which made its debut in late February, is also home to 101 stocks and charges 0.49%. The fund has proven somewhat popular with investors, raking in $16.9 million in AUM in a tough environment for emerging markets stocks.

With a 30-day SEC yield north of 6%, DVYE allocates 49% of its country weight to Taiwan, Brazil and South Africa.

Koesterich also said he likes the $1.49 billion iShares High Dividend Equity Fund (NYSE: HDV). HDV charges 0.4% and is home to 75 stocks. The fund has a 30-day SEC yield of 3.7% and its top-10 holdings include AT&T (NYSE: T), Pfizer (NYSE: PFE) and Procter & Gamble (NYSE: PG).

The share of companies issuing dividends jumped to 41.7% in the first quarter of 2012, up from 41.4% at the end of the fourth quarter of 2011, according to S&P data.